Who are Renters by Choice?

Renters by choice are on the rise, especially among younger generations, following the recession and housing crisis a decade ago. In fact, more U.S. households are renting now than any time in the past 50 years instead of committing to buying a house—even if they have the financial means to buy. Plus, while buying a home has its advantages, renters by choice gain a variety of financial and lifestyle benefits that aren’t available to homeowners.

Renters by Choice vs. Renters by Necessity

Renters by choice are people who choose to rent their housing based on their preference rather than financial restrictions. In contrast, renters by necessity rent because they cannot buy—typically due to financial inability to purchase a home, inadequate credit, or required job mobility.

Renters by choice continue to rise, and the stigma associated with renting has lightened considerably due to the benefits of renting as well as the disillusionment of homeownership following the recession and housing crisis. Today’s renters are especially interested in the financial and lifestyle benefits of renting vs. owning.

Some benefits of renting include:
1. Flexible lease options provide flexibility in terms of commitment, mobility, timelines, and financial responsibility
2. Mobility allows renters the freedom to move without having to sell property first
3. Maintenance-free living means home maintenance is simply a call or click away
4. Included amenities provide on-site conveniences that can replace add-on expenses, like an on-site fitness center replacing a gym membership
5. More location options when selecting a rental means renters can choose a home close to their work and/or entertainment

These benefits make renting appealing to a wide variety of individuals, but the space and convenience make it an especially good option for downsizers. In short, renting—especially built to rent communities like horizontal living—provides many of the benefits of home ownership alongside convenient and unique bonuses. This is why renting is better than buying for many individuals.

What Renters by Choice are Looking For

Renters by choice select renting over ownership for a variety of reasons, like the benefits mentioned above: flexible lease terms for mobility, community amenities for convenience, and more.

For some, flexible lease terms mean they can choose short-term or long-term leases based on their needs and preferences in order to retain the freedom of mobility.

Additionally, many renters seek specific community amenities in order to save time and money rather than paying for additional services, like a gym membership. In modern apartment communities and built to rent home developments, these amenities can provide built-in socialization, entertainment, and even the convenience of extra storage space or package receiving.

Renting also opens up opportunities to live in the most desirable locations—closer to work or recreation—because the upfront cost is lower than buying a home in the same area. And when you rent vs. buy, upgrades, maintenance, and installation are taken care of. Take high-tech living for example. Smart home technology is becoming a major bonus in rental communities, bringing new convenience and security to rentals without having to install it alone.

Renters by choice have the luxury of selecting from many different apartments and rental homes that include the amenities and features they want most, as opposed to having to install these features themselves in an owned home. In addition to the variety of other benefits of renting, it’s no surprise that more and more people select renting by choice over buying a home.

Our Communities Were Built for You

At Christopher Todd Communities, our detached, single-story, single-family homes provide improved privacy over apartment rentals, less maintenance than owning a house, built-in smart home technology, and tons of space for entertainment and socialization. Here, you get your own home and a private backyard maintained for you, luxurious community amenities right outside your front door, in-home features that add convenience, and regular resident events for a true neighborhood atmosphere. You can view our communities here.